Market Report for Mar 23 2021
S&P 500 = Up
Nasdaq Composite = Sideways
Russell 2000 +14.8% YTD
Dow Jones Industrial Average +6.9% YTD
S&P 500 +4.9% YTD
Nasdaq Composite +3.8% YTD
NYSE Vol: 785 mln (B)
Nasdaq Vol: 5.2 bln (B)
New Swing Positions:
While we did not know it at the time, one year ago today we were at the lowest point of the COVID crash in 2020. After this point we saw the market start to move up while many assumed we would continue to see further declines for years to come. Within 2 weeks of this low, we were the few buying into this market while the majority were still short or were standing aside. And as we know, the majority are often wrong.
A year later, tech is attempting to resume its uptrend by coming out of a tree shaking period. Yesterday saw Nasdaq Composite lead the averages while the Dow Jones Industrial Average lagged, although still closed 0.3% up for the first trading day of the week. Momentum was lost during the second half of the session.
Tech was the winner while Financials and Energy sat at the bottom.
Further to this weekends webinar, if we do start to see bullish momentum, buy moderately as price start to prove itself. We bought just one growth stock yesterday.
Let’s go trade!